RE:RE:Offering at $6.10 CADOsubuck30 wrote: And after the recent conference call it did not seem like they needed additional capital. In fact balance sheet is best in history of company and cashflow was to continue.
Also some insiders spellings seem to indicate they don't think the company is undervalued that much at current pricing because if they did why would they be selling if they thought this would be double of triple if they unlisted to Nasdaq? I don't know what to think honestly.
This happens quite often. Most likely they are diversifying their investments as the stock price has risen quite a bit in the last year. They still own a $hit load of shares even after their divestiture. One example most recently is a company I own called pfb corp. Alan Smith the executive chairman sold off about 4.9% of the company at about $16/share, then a month later they announce a special $1/share dividend and the stock is now around $20/share